04-02-2022, 08:17 AM
Snap recovers from Apple privacy changes, shares surge 50% cent
![[Image: 2022-02-03t211914z_1_lynxmpei1217s_rtrop...k=HgMQPIs6]](https://onecms-res.cloudinary.com/image/upload/s--_UHvl1_q--/c_fill%2Cg_auto%2Ch_468%2Cw_830/fl_relative%2Cg_south_east%2Cl_one-cms:core:watermark:reuters%2Cw_0.1/f_auto%2Cq_auto/v1/one-cms/core/2022-02-03t211914z_1_lynxmpei1217s_rtroptp_3_snap-results.jpg?itok=HgMQPIs6)
Snap on Thursday said its advertising business bounced back from the effects of Apple's privacy changes faster than it expected, and shares of the company skyrocketed 50 per cent as it provided a first quarter outlook that surpassed analyst estimates.
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The results were good news for a tech sector hammered since yesterday on gloomy outlooks and concern that Apple's privacy updates, which were introduced last year and allow users to prevent apps from tracking their online activity for advertising purposes, would hurt ad revenue.
Snap forecast first-quarter revenue between US$1.03 billion to US$1.08 billion, and daily active users to be between 328 million to 330 million. The guidance for both metrics surpassed analyst estimates, according to IBES data from Refinitiv.
Digital pinboard company Pinterest Inc also reported higher-than-expected revenue on Thursday and its shares rose 20 per cent.
The earnings reports from both Snap and Pinterest contrast with that of Facebook owner Meta Platforms, whose shares fell 26 per cent on Thursday in what could be the largest single-day wipeout in market value for a US company, a day after it said the impact from Apple's privacy changes could be "in the order of US$10 billion" this year.
Meta said the Apple updates hurt advertisers' ability to target ads to potential customers and measure the effectiveness of ads.
A large portion of Snap's advertisers began using new ad measurement tools by the end of the fourth quarter, and parts of Snap's advertising business began to recover from the Apple changes "quicker than we anticipated", said Snap Chief Financial Officer Derek Andersen, in prepared remarks released ahead of the earnings call with analysts.
Snap on Thursday said its advertising business bounced back from the effects of Apple's privacy changes faster than it expected, and shares of the company skyrocketed 50 per cent as it provided a first quarter outlook that surpassed analyst estimates.
In addition to money, ดาวน์โหลด SLOTXO which is the main benefit that bettors choose to play xo slot games, the fun of this game can also attract players.
The results were good news for a tech sector hammered since yesterday on gloomy outlooks and concern that Apple's privacy updates, which were introduced last year and allow users to prevent apps from tracking their online activity for advertising purposes, would hurt ad revenue.
Snap forecast first-quarter revenue between US$1.03 billion to US$1.08 billion, and daily active users to be between 328 million to 330 million. The guidance for both metrics surpassed analyst estimates, according to IBES data from Refinitiv.
Digital pinboard company Pinterest Inc also reported higher-than-expected revenue on Thursday and its shares rose 20 per cent.
The earnings reports from both Snap and Pinterest contrast with that of Facebook owner Meta Platforms, whose shares fell 26 per cent on Thursday in what could be the largest single-day wipeout in market value for a US company, a day after it said the impact from Apple's privacy changes could be "in the order of US$10 billion" this year.
Meta said the Apple updates hurt advertisers' ability to target ads to potential customers and measure the effectiveness of ads.
A large portion of Snap's advertisers began using new ad measurement tools by the end of the fourth quarter, and parts of Snap's advertising business began to recover from the Apple changes "quicker than we anticipated", said Snap Chief Financial Officer Derek Andersen, in prepared remarks released ahead of the earnings call with analysts.
